Executives Tell Congress They Want Permanent Tax Reform

Wall Street and corporate executives urged lawmakers on Thursday to pursue a permanent tax reform package that avoids expanding the federal deficit as a way to drive U.S. economic growth, investment and job creation.

At a hearing before the House of Representatives tax committee, businessmen including executives from AT&T Inc, Emerson Electric Co and S&P Global Inc, said business needs permanent reforms to enhance certainty for long-term investments that can expand markets, grow jobs and increase wages.

“I need a permanent tax rate and I need it for at least 10 years,” said Emerson Chief Executive David Farr, who is also chairman of the National Association of Manufacturers, a powerful trade group with 14,000 members.

The endorsement of permanent policy changes could help House Republicans advance their revenue-neutral approach in a tax debate that has spawned calls for deficit-funded tax cuts that would have to expire after a decade under Senate

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